Hopefully he did and is way bullish about it too. Great minds think alike, sure.  Seems like he thinks its the best fundamental and technical play of the year. Here is my original post and here is his.

CNEH - A Bright Future

Why I Bought A Stock With The Most Perfect Setup—Technical & Fundamental—I’ve Seen So Far In 2008

CNEH possesses all the signs that it will be a winner for the long hall. Recently,they have secured more funding through equity warrants and debenture financing. The company has brought forth measures to also increase its oil wells from 157 to 675, providing growth and sales. The stocks current PE of 15 is low compared to other China Petroleum companies and given that oil prices maintain their current levels, sales over 55 million are within reach by the end of 2008 and 100 million by the end of 2009. CNEH also sells all its oil to PetroChina, a sustained buyer.
Technically, CNEH is testing the 50 day moving average after a retrace from a high of 4.70. We will see if this support line holds up.

Petroleo Brasileiro has seen its shares triple in the past year and all indications point to full steam ahead for this 300 billion dollar giant. There are a number of reasons why PBR continues to see its value increase.

1. They consistently find large amounts of recoverable oil in new fields. This includes, the Tupi field, which had 8 billion barrels, the Jupiter field and theCarioca location which could have 32 billion barrels. This would make it the 3^rd biggest field in the world. All these findings have the company seeing 100,000 barrels per day by the end of 2010.

2. PBR has the resources to fund its expeditions and exploring activities. The company is willing to take on debt to buy more rigs and is cutting back on some r&d to focus on developing the above fields.

3. Lastly, the rise in oil prices means more profits for the company and higher margins. This is due to costs in exploration and SG&A being relatively stable while gas pushes 140 in the USA.

Technically, this stock looks solid too.

Syntroleum Corporation (Nasdaq: SYNM) offers the Fischer-Tropsch technology that allows converting biomass, coal, natural gas, and other carbon-based feedstocks into synthetic diesel and jet fuel. The company also targets the renewable energy market with their other technology called Bio-Synfining. The latter technology will be used for the production of renewable synthetic fuels from fats, oils and greases.

In their latest SEC filing Syntroleum reported a net loss of $2.2 million which was mostly due SG&A and engineering expenses. This however didn’t have much effect on the company’s share price as the stock keeps rallying up. Syntroleum’s stock has been on an uptrend since the end of March, 2008. There are currently no technical indications of trend reversal.

The company is in a stable financial position having nearly $24 million in cash. Capital was raised through equity and debt financing, and from the sale of certain assets. The company’s expenditures should decline somewhat, as Syntroleum has implemented a program of overhead expense reduction. The company has also completed their research and development activities and claims to be concentrating on the commercial deployment of its technology.

The company has enough cash to support current operating activities and thus negate a loss from operations for at least another year. Our concern is whether the company will be able to raise the estimated $158.5 million needed for the construction of a plant which would allow using the Bio-Synfining technology. The company has stated that it is actively seeking financing alternatives, including joint ventures and strategic alliances.
If the company fails to raise the funds needed they will be forced to consider either a business combination or a sale of assets. It is clear the company cannot go on for long with continuing losses from operations. If their plans for plant construction fail, we will probably see the company’s stock hitting the bottom. Meanwhile investors can enjoy a continuing rally up in this rather risky stock.

The government is encouraging companies to research on alternative fuels and backing companies up financially. Also, the U.S. military, the worlds largest consumer of oil has signed an agreement with Syntroleum to build a synthetic oil refinery for supply. As long as oil prices keep going up, the interest in synthetic fuel will only keep rising with it. However, I’ve not initiated a position in SYNM and am waiting for a clear resistance point to open up a small position in this risky stock. Below is a chart on Synthroleum’s recent price movement.